Here is a Cumulative Chart with each session mapped out. In total, I played 108 sessions in 2008. That is about 1 in 3.3 days playing poker or about 29.5% of the days in 2008 playing the game. My average winning per session is about $76.94 per session. As you can see I don't win all the time, but it was a steady rise after a bad start to the year. I ended at my 12 month high of $8309.
Wednesday, December 31, 2008
Saturday, December 27, 2008
I stayed at the Tropicana. Its one of the cheapest places on the Strip. The room isn't anything special, but I don't need a fancy room, just a place to sleep and shower. It's in a really good location with the MGM Grand and New York New York right across the street. I only played Poker at the MGM and Luxor (The Tropicana's Poker room was shutdown).
My first night at MGM started out good. I made a quick $100 within the first hr. Then I hit a long streak of nothing cards and ended up losing $300 for the session. I reloaded another $100 after I got my stack down to around $50. Nothing was really hitting for me. No sets and a table of really tight players. I kinda felt like it was a losing night and I should have quit when I made the quick $100. I have always said, if you get lucky early then you better quit early. Its good advice, I just need to keep reminding me of this.
Sunday, December 14, 2008
Saturday, December 13, 2008
Needless to say, the weather in Michigan is colder then Texas. I left 70F to goto 13F and snow on the ground. I felt like I never left Michigan. The feelings of Michigan all came back to me and I felt like I never left. I thought I would feel the cold, but I got used to it pretty quick and it was like I never left. I did have to find my jacket and winter clothes. I packed it all away and was hoping to never used them again. I wish I was back in Texas with my "novia" I miss her.
I only had a chance to play poker on Friday night. It was a tough night at Palace Poker. I had some big hands. Pocket Aces once, no action. Pocket Queens like 4 times and cracked 3 time, someone hitting a set and trips on me. I did hit quads twice, 7777 and 9999! But had little action on it. I should have cleaned up, but got short stacked after losing $100 with my pocket Queens. The Palace had a prize pool for the top 3 hands of the night. My Quads didn't even make it, since you needed both cards to play and by 1am there were 3 straight flushes... Damn, those are some big hands..
Friday, December 5, 2008
Saturday, November 29, 2008
Thursday, November 27, 2008
Saturday, November 15, 2008
Saturday, November 8, 2008
Friday, October 31, 2008
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Saturday, October 25, 2008
Sunday, October 19, 2008
Thursday, October 16, 2008
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Sunday, October 12, 2008
Saturday, October 11, 2008
Back from a relatively short night of Poker at Sheldon's. I made $240 in about 3 hours. I played from 8pm to 11pm. I figured I was averaging $80/hour in a very steady climb up. I bluffed one big hand to make it a good night early so I decided to call it a night and get some needed rest. Pocket Queens was the hand of the night. I had them 3 times, along with pocket Kings once, Jacks twice and Aces one. That's a lucky streak to get those big hands within 3 hrs.
I hit Quad Queens in my first big hand. I look down, under the gun, "two ladies". I raise $15, haven't played a hand since they started for 25 minutes. The guy in the big blind calls and he ask if I want to run it out. I don't like to do that, but want to be friendly so agree. The flop is AQ3, I say I have a set, turn is a Queen, then I say, "now quads" the river doesn't matter. The guy shows pocket 88s. He probably wasn't calling any bet on the flop with 2 overs and an Ace on the board, so I won as much as I could... I hear another guy say "that guy is solid.." and another say, "wow, quad Queens.." I can tell my tight reputation is without question and I put it to good use later on. This is like my 4th time ever hitting Quad Queens. I guess I am lucky with the ladies...
A short time later I get pocket Queens again in the Big Blind. The button raises it $17. The small blind calls. I re-raise to $57 all day. The original raiser calls, the small blind calls. The flop is A23. I think, dam an Ace. I have to bet to win. I pause for a second and think I have to bet if I am going to win. So I bet $50 into a $171 pot. The big blind folds reluctantly and the small blind thinks really hard and folds. The button guys says, "tell me that AJ is no good.." and the small blind said he had a mid pair. He thought I had pocket Aces and my $50 bet was just begging to be called. He knew I was tight and called me the "tightest Asian player in Austin".. Did my bluff work? or did he just have a mid pair also? I guess being the tightest player at the table helps make people fold to you. I was glad to take it down without a fight.
My last big hand: Same exact setup as before... The button raises $17. The small blind calls. I am in the big blind and see two ladies again. I raise another $40 to make it $57 all day. There was one limper already in the pot. He goes all in for around $35. The button guys says, "we have been here before.." I say, "Yes, we have and you should have folded before, will you make the right decision?" He finally folds.. The small blind is upset, he wanted "pot odds" to call. He takes his time and finally folds, showing pocket nines. I roll over my ladies and hit my set on the turn. The guy that went all in never shows his hand, but I assume he had a small pair. He is one of the looses players at the table and I have taken him down many times before.
Thursday, October 9, 2008
Tuesday, September 30, 2008
If you still don't get it, then give me a call and I will explain..
- Government creation of GSE, Fannie Mae and Freddie Mac to buy Mortgage Loans
- Desire to increase home ownership: Bush pushed GSEs and Fed to lower rates and lending standards to allow more people the ability to own homes
- Sarbanes Oxley Act comes along after Enron scandal, requiring Mark to Market accounting for all public companies, including banks
- Interest rates start to increase and people with ARM start foreclosing
- Wall Street stops buying Mortgage Back Securities
- Banks requiring to "mark to market" there unrealized loan losses do so, causing rating agencies to downgrade there credit
- Banks sell and buy Credit Default Swaps to protect against loan losses
- Investment Bankers that sell CDS, go out of business when they are required to pay out and cant.
- Banks go into bankruptcy after there capital requirements are not meet and the CDS protection they purchase goes into default.
I'm not writing the following to scare anyone and I'm not writing it to be dramatic. I am writing it because I kept hearing folks who in the interest of being calm were telling us what great opportunities there were to buy stocks Monday. I kept hearing "for the long term" and how if you'd bought the low in 1987 you'd have made a fortune. So let me share with you what I saw in that photo from nearly 21 years ago. Keep in mind that these were the stocks to watch back then.
General Motors (GM - commentary - Cramer's Take)closed the day down $16 to $50. GM is currently trading around $9. Ford Motor (F - commentary - Cramer's Take) closed that day at $69, down $15 on the day. Ford is trading with a four handle last time I checked.
OK, so you want to scoff because they are auto stocks? Note how I didn't bother to mention that Chrysler isn't a public company anymore. So let's look at some of the tech stocks that were deemed important back then.
Prime Computer. Who? That's right. I can't even remember what happened to that company. Unisys (UIS - commentary - Cramer's Take) is still around although it now trades with a two handle. At the low of the crash of 1987 it was $30, down $7 on the day. Digital Equipment was IBM's (IBM - commentary - Cramer's Take) biggest competitor then. DEC, as it was called, actually traded about 25 cents shy of $200 during the final week of September 1987. On the day of the crash it closed at $130, down $42 on the day.
DEC was eventually bought out in the late 1990s. I can't recall the exact price but something in the $60s rings a bell. And no, that price isn't split adjusted. It was bought by Compaq. Oh yes. I'm sure you remember Compaq which got bought by Hewlett-Packard (HPQ - commentary - Cramer's Take) for peanuts I recall!The list of brokers and banks will bring back memories too. E.F. Hutton, Salomon Brothers, Chemical Bank, Chase Manhattan Bank. Manny Hanny as we called Manufacturers Hanover Trust. Bankers Trust was there too. It took me a few minutes to realize that GS on the screen back then was not Goldman Sachs (GS - commentary - Cramer's Take) but Gillette, the razor company.
But the one that really shocked me was Kodak (EK - commentary - Cramer's Take). I had forgotten what an important stock it was. It was in the Dow Jones Industrial Average back then. It closed the day down $26, at $63. It is currently a teenager.
There will be great bargains when this decline is done. There will be great stocks to buy. But whoever tells you what a great opportunity XYZ stock is today clearly doesn't know that the market rotates its favorite names, its favorite groups. I have often said that last year's winners are rarely this year's winners. Well, we can expand that to say something a bit more general: The winners of today are rarely the winners of tomorrow and I believe this trip down memory lane from 1987 proves that point.
Monday was ugly, and it felt a bit panicky too. The VIX jumped. The Index ratio zoomed over 200%. Volume was relatively high as well. So we ought to get an oversold bounce shortly but I can tell you that I would rather be late to the party than early in this case. I've given the market the benefit of the doubt lately by ignoring the intermediate-term indicators and their continued down-trending ways. They were clearly sending us a message and I will now wait until they tell us it's safe to go back in the water.
For more explanation of these indicators, check out The Chartist's primer.
For more explanation of these indicators, check out The Chartist's primer.
Saturday, September 27, 2008
Anyways, back to the hand. Everyone folds except the girl that hit the two outer on me. I feel that she is still steaming over folding pocket Jacks and me hitting a two outer on her early with a set of nines of the river. The flop is AQ3. She bets out $25. I re-raise her to $50. She calls. The turn is a 10. She checks and says to me don't bet.. I say I have too.. I bet $100. She thinks really hard. She looks shocked that I bet that much. She takes forever to decided, but eventually calls. The river is a blank and she rolls over A5. I show my two pair and take the pot... Now I am back up to $360 in front of me.. Basically where I was 11 hours ago with a $160 profit. I sit for a few more rounds and leave. I was glad to leave with a little profit and keep my winning streak alive at Sheldon's place.
Wednesday, September 24, 2008
The news on GS seems puzzling, the media is hyping that it is all good, but the stock offering scares me? Why do they need $5B more, if they are so well capitalized? Why are they issuing preferred stock? It sounds like they are in a cash crunch just like all the other firms that have collapsed. Every other financial firm did the same thing. Raised money by offering preferred shares or issued more stock. Something doesn't seem right with this story.If I were Jim Cramer at his hedge fund, I would be long the preferred shares and shorting the common? Oh wait, we cant short now.. Wow, amazing how that has worked out.. I guess Paulson is helping out his old firm after all..
Tuesday, September 23, 2008
Short WB!!! That's my hot tip.. Since you cant short financials now.. then buy some puts... It is the next big bank to go bankrupt.. I have a good tip by someone that knew about Bear, Lehman and Merrill Lynch going under months before it happen.. I should have stayed with all those shorts.. Would have made out like a bandit..
Saturday, September 20, 2008
The Classic Hold'em Showdown: I continue to play tight. Getting no cards for 40 minutes. Then I pickup pocket Aces under the gun. I think, dam I hate when that happens (a big hand under the gun...). Now many people will just limp in and hope someone raises behind them. I think that is a bad play and my best advice for most players is to never slow play a big hand unless you got quads or unless you can fold Aces. So I raise $20, which is the biggest pre-flop raises all night. I expect everyone to just fold to me, the tightest player at the table, ha ha... The guy next to me calls! The guy after him calls.?.. Everyone else folds.. a guy near me says how do you get all that action after not playing a hand for an hour. I say, "I don't know, I guess I got no respect.. I will have to teach them a lesson.." The flop is 57Q. I am first to act and bet $50. The guy next pushes all in, raises to $110. The last guy asks, "Do you have AQ?" He looks over at me and says I must have Aces or Kings. He throws his hand over showing AQ, and says "he will call.." (pointing to me...) Which I do... The other guy had pocket kings and I take him out.. I am up over $750 now and have only been playing for just 2 hrs, that is $275/hr, just sick... The guys say that I will be having a thousand dollar night. I think to my self, I am just happy to take what I have now.. Anyways, I owe them some play, so play till closing 2:50am.. some guy slowed played pocket Aces when I had AK and hit a King on the flop.. I walk out with $600, happy with my night, but still wishing I would have quit at $750.... Anyways, I had fun.
I treated myself to some PF Changs. I read some good reviews about them. I tried there Orange Peel beef, it was pretty good. It was the first time that I was there. It was a pretty nice place, I will have to go back and try a few other dishes.
Friday, September 19, 2008
Wednesday, September 17, 2008
What the heck...? The stock markets is really tanking. I have been out of the market for some time now. With my relocation and new job, its been hard to focus on any investments. But the bottom must be near... The best time to buy stocks is when everyone is selling. And now is that time. I finally put on a trade after months of being on the side lines. I got 100 shares of GS: Goldman Sachs for $110 each.
Saturday, September 13, 2008
Saturday, September 6, 2008
Tuesday, September 2, 2008
whoever walks with fools will suffer harm."
In other words: "Your companions are like the buttons on an elevator; they will either take you up or they will take you down."
I got this book of sayings. It changes everyday.. I though today's saying was inspirational..
Sunday, August 24, 2008
Current Poker Stats
Saturday, August 23, 2008
I returned around 10pm and played 6 handed. I bought in for $200 and quickly got up over $100. I hit a set of 33s with my first pocket pair. I also hit a pair with AK. This crazy Asian guy was raising every hand $12. Then he would make a $20 continuation bet, no matter what. I seen him buy in 4 times at $100 a pop. Then he decided to buy in for $500. He basically made himself the chip leader. He busted out a guy 2 times and before you knew it, he had over $1200 in front of him.
Tuesday, August 19, 2008
That being all said, it is another Presidential Election year and I used to love to follow government Politics. I have pretty strong opinions about government Politics and while it's considered rude to talk about Politics in friendly company, its okay to blog about it. So here I go....
I think most people are reasonable and down the middle somewhere in the political spectrum. I think we all have the same general goals in mind for the future. Those basic goals are a peaceful life, food on the table, a healthy body and a safe environment to live in. Now how we achieve these goals is where we disagree and that is what Politics is all about. How do we reach our common goals?
In the most general sense, the American system of Politics consist of liberals and conservatives. Also, know as the left or the right, respectively. Now lets take the goal of having peace. Both sides would agree that this is good for society. But how do we attain a more peaceful life? A liberal would say that we need more laws and rules to control peoples lives. A conservative would say that we already have enough laws and rules and don't need any more to complicate life. In a general sense, Liberals want change and Conservatives want the status quo.
Lets look at the goal of having food on the table. A liberal would say lets give them food or a welfare check. I conservative would say, lets educate them so that they can get a job and feed themselves. Liberals tend to like short term solutions and conservatives like long term solutions. Liberals tend to live and see life in the present, Conservatives tend to plan and worry about the future. Now both want the same end result. No one should be hungry, but the solution is vastly different and you can argue endlessly to which direction to take.
I tried to take a balance approach. I try to look at both sides and make my own decisions. This can be extremely frustrating to some people, since I might seem to never make up my mind. but I don't make snap decisions, but I think it is necessary to try at look at the complete picture before making any decisions. This is why I love the study of Politics. You can be passionate about either side and yet never be right, but its fun to discuss and challenge each other as long as you have respect for each others point of view.
I consider myself a libertarian. Fiscally conservative, but socially liberal. If you are not sure what a libertarian is, then click on it and look it up. It's hard to define all your beliefs to one "label" but libertarian most closely matches my point of view. I will outline a few of my basic core beliefs and you can decide what I am.
I believe that governments primary role is to protect its people and property. Government should have a very limited role with its people lives and should let them live in freedom. Government should enforce the rules but not control your lives. People should be allowed to live as they wish, as long as they do no harm to others.
I believe that governments and people should be fiscally sound, meaning they should not spend more money then they have. I believe issues like health care, welfare, and social security should never have been apart of government. People should be in charge of there own health care, welfare and retirement. Whenever you have a large organization or bureaucracy handle things like this, it is inefficient and costly. People should be trusted to handle there own personal affairs.
Government does have a role in law enforcement, defense and building infrastructure for the common good. Things like maintaining a stable currency, build roads and enforcing the law should be the primary role of the government
I think the capital punishment is wrong (death penalty). If it's against the law to kill, then how can the government break its own laws? I think all drugs should be legalized and controlled like tobacco and alcohol. There should be education to teach people the harm that they do, but we do not need to be wasting our efforts on enforcing laws that mostly effect individuals. If some wants to do drugs in there own home, then let them. As long as it doesn't effect my life, then I am okay with it. I am pro-choice. Women should be allowed to decide what they want to do with there bodies. While I would hope that no baby is killed, we are talking about an embryo that has not really experienced life. The worst thing that would happen is that a baby is brought into this world to a mother that isn't truly ready for it.
I believe in long term solutions that address the root causes. I do not believe it short term fixes. I don't like the idea of government "hand-outs" or bail outs. There was a saying by Jesus Christ, "Give a man a fish, he eats for a day. Teach a man to fish, he eats for a lifetime..." What ever solution is suggested, it should always look into the future as much as possible.
All this being said, who do I want for President this year? That is a tough challenge for me this year. For all previous years that I have been able to vote, I have always supported the Republican candidate. This year, I feel ambivalent. I am not excited by McCain. Obama is exciting, but I can't support his liberal views on things. I think Obama is brilliant, well spoken and very articulate. Everything that Bush is not.. But if you look at Obama's ideas, or lack of ideas, I can't support Obama. I will say there is something about Obama. He reminds me of Bill Clinton. He speaks in a way that is easily understood and non-offensive, even for a conservative mind like myself. I find myself liking him for his ability to communicate, even if he is communicating the wrong ideas.
My gut feeling right now is that Obama will be elected President. If I can like the guy, even though he has bad ideas, I would imagine a less informed public could elect him into office. It will be a historic time when we finally elect a "black man" as president of the United States. Technically Obama is mixed, half black and half while, but to look at him, you would think he is a light colored black man. In any case, it will be a historic time. We shall see if this country can do it. I would like to think Americans can elect a Black man, but I have some doubts. There is definitely racism still in America, but I think it is blown out of proportion by the media. This election will be really revealing. I know my own mom has said that she could never vote for black man. Mom voted for Clinton, because she thought he was good looking. If my mom thinks like that, then how many other misinformed voters are there out there. How many other people can never vote for a black man? I think times have changed, but this year we will finally know if times have really changed or stayed the same.
Sunday, August 17, 2008
The cash game started around 9pm and I hit a few hands early on and everyone just folded. I managed to stayed up all night long. It was a slow steady game for me, just how I like. I didn't get involved in to many large pots. Mostly just playing big cards and hitting. I did suck out once with KJ suited in hearts. The flop was A93 with 2 hearts. A guy bet $15 and then another guy went all in for $43. I was already up over $100 and hadn't hit a flush in a long time, so I decided to gamble and call. Luckily the heart hit on the river and I took down another pot. The all-in guy at A10.
This is the second time I have played at this location. The first time I cashed out $633, after buying in for $200. The game is $1/$2 with a $5 kill for pots over $100. I do like this level of game. There is another game where the blinds are $1/$2, but its always $5 to come-in. Basically its like someone straddling all the time. It's hard for me to consistently make money at that game, buying in for only $200. I think I will stick with the $1/$2 games. I feel that whatever the big blind is, or the come-in bet is you should start with 100x. You just can't play short stack poker at a cash game effectively in my opinion.
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Saturday, August 16, 2008
After about one month, my agents found someone interested in renting my Michigan house. The potential tenants intention is to buy it someday, but have some credit issues that they have to work thru first. They wanted to move in by Aug 15th 2008. So I had about 2 weeks to move everything out.
I decided to sell everything on Craig's list. Amazingly, it went really well. Here is a list of everything that sold... and the prices, as much as I can remember. I initially used my neighbor and friend to show the items and collect the money. I gave them my bank account and they deposited the money into my account. Last week, I flew down to have a "garage sale" to sell all the small stuff. I sold 95% of everything I wanted to. I posted the sale on Saturday night and had people lined up at the door at 10:50AM to be the first to check out the place.
If you haven't tried Craig's List, I highly recommend it for selling anything. It is free and very effective. The advantage over EBay is that you get cash right away and it is organized by location. You can meet the sellers and you don't have to worry about shipping and hoping to get your stuff. If this company every goes public, I would buy stock!!!